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Apr 24, 2012
04/12
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it only tracks government-backed mortgages. but for the year ended february, home prices were up 0.4%. now, that's the first 12-month increase that we've seen for this index since the 12 months through 2007. the housing day today, mixed bag, a lot of different stuff going on and the market is not reacting too much to it. if you look at this little glimmer of hope in what's happening in the fhfa side, it does still lend some credence to the idea that housing, if not bonding, is stlooes stabilizing. >> it's a process. not an event. getting back to broader markets as well, this morning. we saw some big declines across the board. we want to get some more insight from one of the more bearish strategists on the street. chief equities strategist sticking with his price target of 11.67 on the s&p. adam, welcome back. good to have you again. has your faith in 11.67 gotten stronger as the spring has started? >> we take the view of the 2013 earnings. but how people are going to feel about those earnings at the end of 2012. so i can be the
it only tracks government-backed mortgages. but for the year ended february, home prices were up 0.4%. now, that's the first 12-month increase that we've seen for this index since the 12 months through 2007. the housing day today, mixed bag, a lot of different stuff going on and the market is not reacting too much to it. if you look at this little glimmer of hope in what's happening in the fhfa side, it does still lend some credence to the idea that housing, if not bonding, is stlooes...
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Dec 13, 2012
12/12
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it wasn't the tax dollars going to the government to help people. it was the charities like robin hood that was immediately there. you saw it with the sanitation. you saw it with the first responders. and let me tell you what i thought about last night. i am sick and tired -- sick and tired of people like nancy pelosi and harry reid sitting here attacking the wealthy for more taxes. bring it on, they'll say. bring it on. but these are the most charitable people in the world. i'm not going to name names. but if you watched that concert last night and you saw the people that were there and you could go to the robin hood foundation organization website, guess what, harry reid? those are the people that give their money away to help people. and i leave it at that. and that's what the fiscal cliff and taxes and charity have to do with the benefit last night. >> i suppose if harry reid or nancy pelosi were here, and they're not here, i wish some of them were, to respond to what you're saying. >> they don't give money to charity. they don't give money to c
it wasn't the tax dollars going to the government to help people. it was the charities like robin hood that was immediately there. you saw it with the sanitation. you saw it with the first responders. and let me tell you what i thought about last night. i am sick and tired -- sick and tired of people like nancy pelosi and harry reid sitting here attacking the wealthy for more taxes. bring it on, they'll say. bring it on. but these are the most charitable people in the world. i'm not going to...
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Dec 7, 2012
12/12
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government now can stop this kind of job growth. a fiscal cliff go over -- >> snatching victory from the jaws. >> a superstorm. nothing can stop the generation of jobs in this economy. >> there's a great article today in one of the papers about how apartment building, we have a shortage of apartments and shortage of housing and shortage of autos and shortage of office buildings developing, shortage of shopping centers, shortage of shopping malls. this is what begins a movement. you have to hire eventually. now you could say people are not looking for work, come on. look, jobs are here. they can -- it can be just easily reversed if you have no idea what is the future because of washington. >> given the data points that we've had in terms of claims numbers that did reflect an impact from sandy, they said 85,000 jobs or 86,000 jobs were sliced because of impact of sandy. average hours worked unchanged. doesn't that -- i don't know -- doesn't that bring into question a little bit the participation in the survey. how can it have no impac
government now can stop this kind of job growth. a fiscal cliff go over -- >> snatching victory from the jaws. >> a superstorm. nothing can stop the generation of jobs in this economy. >> there's a great article today in one of the papers about how apartment building, we have a shortage of apartments and shortage of housing and shortage of autos and shortage of office buildings developing, shortage of shopping centers, shortage of shopping malls. this is what begins a...
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Jun 20, 2012
06/12
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tomorrow they swear in the rest of the government. after he swears on the bible, greece will finally have a government after six weeks. this el can hopefully get on with the process of trying to figure out their budget and negotiate with the european union to any leniency of dealing with the bailout package and making payments on time. they have lost tax revenue. due to all the uncertainty but not having a government and who was going to lead the country. so what you see here is an important step for this country to try to get back on its feet and move forward, and still try to stay in they you aro. the vote for antonin system amaras was seen as the people wanting to stick with touch measures and see the euro as. we'll see the finance team leave tomorrow for brussels to try to convince the european union for more leniency. >> michelle, thank you very much. again, one step in what could be a long road for greece as well as the entire your ozone. >>> coming up, burger king is public once again. we'll be talking exclusively with the cfo,
tomorrow they swear in the rest of the government. after he swears on the bible, greece will finally have a government after six weeks. this el can hopefully get on with the process of trying to figure out their budget and negotiate with the european union to any leniency of dealing with the bailout package and making payments on time. they have lost tax revenue. due to all the uncertainty but not having a government and who was going to lead the country. so what you see here is an important...
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Dec 5, 2012
12/12
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reflects the balanced response, and i've shown myself willing to make tough decisions when it comes to government spending. because despite my reputation -- i think there are efficiencies that can be gained, some programs used to work and just don't work now, as a consequence with working with democrats and republicans last year we were able to cut over a trillion of spending. the largest cut, by the way, in discretionary spending in history. so we're prepared to make some tough decisions when it came tough to -- when you look at what's needed for us to stabilize our budget, stabilize our deficit to gdp ratio, then every credible will follow. we can't just do it on spending cuts. there has to be a balanced approach in which we also are bringing -- partly because our revenue levels are as low as they've been -- >>> we're trying to decide if this is worth sticking with. it's clearly not the president's mike that is turned on. you can sort of hear what he's saying, but not very well. as he makes headlines we'll bring them to you. so we'll get to some reas is lynn jenkins, republican tiff from kansas
reflects the balanced response, and i've shown myself willing to make tough decisions when it comes to government spending. because despite my reputation -- i think there are efficiencies that can be gained, some programs used to work and just don't work now, as a consequence with working with democrats and republicans last year we were able to cut over a trillion of spending. the largest cut, by the way, in discretionary spending in history. so we're prepared to make some tough decisions when...
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Nov 27, 2012
11/12
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all guaranteed by the government. but why? i'm going to find another item that you might not know set to expire. it's checking accounts for business. we guarantee everything. i think it's time we stop. tune in top of the hour. time t. tune in top of the hour. ♪ [ female announcer ] today, it's not just about who lives in the white house, it's about who lives in the yellow house, the green, and the apartment house, too. today we not only honor the oval office, but we honor the cubicle, and the home office as well. because today it's about all of us. and no matter who you are, you're the commander-in-chief of your own life. ♪ you know it can be hard to lbreathe, and how that feels.e, of your own life. copd includes chronic bronchitis and emphysema. spiriva helps control my copd symptoms by keeping my airways open for 24 hours. plus, it reduces copd flare-ups. spiriva is the only once-daily inhaled copd maintenance treatment that does both. spiriva handihaler tiotropium bromide inhalation powder does not replace fast-acting i
all guaranteed by the government. but why? i'm going to find another item that you might not know set to expire. it's checking accounts for business. we guarantee everything. i think it's time we stop. tune in top of the hour. time t. tune in top of the hour. ♪ [ female announcer ] today, it's not just about who lives in the white house, it's about who lives in the yellow house, the green, and the apartment house, too. today we not only honor the oval office, but we honor the cubicle, and the...
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Jun 4, 2012
06/12
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. >> we won't be able to pay for it any longer out of government funds. that will be bankrupt. >> hopefully i'll get my contacts cheaper with that ab acquisition of 1-800-contacts. >> private deal. terms not disclosed. >> usually that means it wasn't material. perhaps less than 5% of 12 points overall market value which is $22 billion. not sure what the number was. >> great ages on america play. people are losing their eyesight left and right. >> absolutely true. >> i use readers. anyone use readers? >> no. >> i got them from cvs. the ones with little lights on, makes you look like you're from mars. which confirms for people. >> the trading day still young. a lot more "squawk on the street" still ahead. >>> coming up, market volatility hurting your head? >> he's got a headache. >> no, i don't. >> how about now? >> yeah, it's coming on. >> cramer's got the cure for the insanity. >> don't forget to dot the "is." >> six stocks in 60 seconds when "squawk on the street" returns. ♪ [ laughter ] ♪ [ female announcer ] each one of us is our own boss. ♪ and
. >> we won't be able to pay for it any longer out of government funds. that will be bankrupt. >> hopefully i'll get my contacts cheaper with that ab acquisition of 1-800-contacts. >> private deal. terms not disclosed. >> usually that means it wasn't material. perhaps less than 5% of 12 points overall market value which is $22 billion. not sure what the number was. >> great ages on america play. people are losing their eyesight left and right. >> absolutely...
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Jun 14, 2012
06/12
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we spent $800 plus billion in a stimulus which is just government spending. it was supposed to keep unemployment under 8% and jump-start the economy. unemployment has been above 8% for 40 months and we're now told basically by the president and his supporters that it didn't jump-start the economy. we're going to have to have continued infusion of government spending to keep the economy moving along. we really need to change course and that's what governor romney is laying out. >> do you think there's any justification for the just fine comment when you look at the levels of cash that american businesses have right now, the way in which they're able to borrow money almost for free, the fact that the stock market is up 50% since the president took office. if you had to, could you build that argument? >> well, i think he's going to try to build the argument but i don't think it flies. business formation at a 30-year low, unemployment rising again. long-term unemployed at a record level 4.8 million people. those are lives that have been shattered. so i think you
we spent $800 plus billion in a stimulus which is just government spending. it was supposed to keep unemployment under 8% and jump-start the economy. unemployment has been above 8% for 40 months and we're now told basically by the president and his supporters that it didn't jump-start the economy. we're going to have to have continued infusion of government spending to keep the economy moving along. we really need to change course and that's what governor romney is laying out. >> do you...
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May 31, 2012
05/12
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biz investment up sharply, government another tick down 3.9%. inventories going lower. that may be a good sign, not so much inventory buildup. i'll be back at 10:30 with economists reaction to the data and how forecast for that super bowl of data, the payrolls may be changing. melissa. >> thank you very much. steve liesman, see you later. check in with rick santelli in chicago. rick. >> the nice thing about government data is there's a lot of different rabbit holes we can go down. my sources, friends, have been sending me one of the best. this is u.s. corporate profits. they were down over 4% in this gdp report. that's the worst showing since the credit crisis in '08. look at a 20-year chart. this is not good. it's one of these subindexes many people pay attention to. i think the graphics do it justice. that number wasn't very good. of course we see how the markets responded. small moves at hugely important historical spots with regard to fixed income. look at a 24-hour chart, ten-year note rates. yes, we did, eastern blip under 160. and the boone leading charge on hist
biz investment up sharply, government another tick down 3.9%. inventories going lower. that may be a good sign, not so much inventory buildup. i'll be back at 10:30 with economists reaction to the data and how forecast for that super bowl of data, the payrolls may be changing. melissa. >> thank you very much. steve liesman, see you later. check in with rick santelli in chicago. rick. >> the nice thing about government data is there's a lot of different rabbit holes we can go down....
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Sep 7, 2012
09/12
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government down again 7,000. the government was a big part of the revisions for the prior months. they revised them down something like 20,000. the report has many economists thinking this almost guarantees additional fed help next week. august employment report, q.e. 3, here we come, says btig. you see the disappointment here. notice what happened in december, january and february. had that rebound from the swoon that happened in the summer and the fall. there was hopes that the july number was the beginning of that rebound. but august is telling you it wasn't. we'll have to wait another month. one other thing that's come up is how big a miss is this for the economists? forecasting 125,000. they got 96,000. here's two ways to look at it. the forecast error, that is the miss, as a percent of the estimated change, they're off by almost a quarter, 23%. but if you take the forecast error as a percent of total employment, it's off by .02%. depends on how you judge the economist ifs you want to know whether or not they did good or bad on this month's report. >> steve liesman, thanks so
government down again 7,000. the government was a big part of the revisions for the prior months. they revised them down something like 20,000. the report has many economists thinking this almost guarantees additional fed help next week. august employment report, q.e. 3, here we come, says btig. you see the disappointment here. notice what happened in december, january and february. had that rebound from the swoon that happened in the summer and the fall. there was hopes that the july number...
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Aug 30, 2012
08/12
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i think the election outcome obviously depends -- really will govern where we end the year, though. >> that housing call yesterday was interesting, though. i think you're talking about some names 30% to 200% upside relative to the s&p, right? >> that's right. if you compare the cycle there's nine groups we've looked at to the three prior cycles. it's following a classic road map. it does look like we're sort of seeing a lot of confirmation. you're absolutely right. these are basically going to be doubles and triples over the next three years. >> tom, maury, thanks guys. going to be an interesting day both today and tomorrow. see you later. >> thanks. >> thanks. >>> want to bring your attention to amazon, by the way. bottom of our screen. the company saying the kindle fire is sold out. and that the kindle is now capturing 22% of u.s. tablet sales. hard to read. i mean, it's arguably -- you could argue the stock would open lower if, in fact, they're facing some inventory pressures here. >> how often have we talked about the kindle, carl, in the last six, nine months. not that often. rea
i think the election outcome obviously depends -- really will govern where we end the year, though. >> that housing call yesterday was interesting, though. i think you're talking about some names 30% to 200% upside relative to the s&p, right? >> that's right. if you compare the cycle there's nine groups we've looked at to the three prior cycles. it's following a classic road map. it does look like we're sort of seeing a lot of confirmation. you're absolutely right. these are...
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May 3, 2012
05/12
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the government bond-buying program at his disposal is still there. but he basically left the impression, i'm not doing anything right now. >> i haven't bought bonds. that's different than the ltro. they haven't bought bonds in a significant way -- >> for a while. but it's still there and still at his disposal. the point s don't look to me to do anything near term. it's in the ball of the government's court. let's talk about april retail sales. this is a very tricky way to look at this. on the surface, it's disappointing. sales up 0.8%. the expectations were for a 1.5% gain. tafs disappointment. the first miss since going back to november. a number miss expectations, target, walgreens, buckle, a whole bunch of them did. but the comps last year were amazing. april 2011, same-store sales, 8.7% because easter was at the end of april in 2011. there was huge amounts of resistance here. you had to overcome that. everybody was freaked out about costco this morning. the comps in april of 2011 for costco were 12%. and they still beat -- they didn't beat. they
the government bond-buying program at his disposal is still there. but he basically left the impression, i'm not doing anything right now. >> i haven't bought bonds. that's different than the ltro. they haven't bought bonds in a significant way -- >> for a while. but it's still there and still at his disposal. the point s don't look to me to do anything near term. it's in the ball of the government's court. let's talk about april retail sales. this is a very tricky way to look at...
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Jul 13, 2012
07/12
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the bank's move generating cautious praise from some in the governance community. owner bloxham writing to cnbc in an e-mail that clawbacks are substantial and added that the board should have been more out front on the clawback for jamie and the cfo and perhaps an internal audit would have done good as well. whether or not any of dimon's pay is clawed back is something we probably won't know until next year. simon, back to you. >> hang on a minute. they're obviously not going to claw it back are they if they come out with the figures and the news is as bad as it is going to get. >> the board said they will make that decision in due time. >> the due course of business. we don't know. maybe they will claw back some pay. i guess they're going to figure it out at the end of the year when they see how the trade has been handled and how the rest of the business is impacted. >> sounds like kicking the can down the road. thank you very much. let's continue our j.p. morgan conversation. gerald cassidy joins us from rbc capital and he rates jpm as an out performer. is that
the bank's move generating cautious praise from some in the governance community. owner bloxham writing to cnbc in an e-mail that clawbacks are substantial and added that the board should have been more out front on the clawback for jamie and the cfo and perhaps an internal audit would have done good as well. whether or not any of dimon's pay is clawed back is something we probably won't know until next year. simon, back to you. >> hang on a minute. they're obviously not going to claw it...
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Dec 17, 2012
12/12
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kind of like the shadow government of the republican party. what i'm saying is, groefrver's been saying this on air. saying, basically, listen, those who get out of line will be dealt with. period. that's very powerful. what is boehner's threat, to remove you from a committee, versus grover's threat to remove you from your seat? who has the power? >> i'll tell you who has the power, the president does. as of january 1st, everybody's taxes go up and we start having a conversation about tax cuts. >> and that's where i think -- that's where it's going. >> it's the 17th today. check your watch while you're on the air. with my eyes i can't even see the date anyway. >> he's always on me, this one. >> does the president want to go over the cliff? it seems like he wants to go over the cliff. i refer to grover, because boehner doesn't seem to have the power and grover does. >> the point, again, bob corker's pledge is not to me, it is to the voters of tennessee, that's the argument he's made again and again. if he wants to have a different conversation
kind of like the shadow government of the republican party. what i'm saying is, groefrver's been saying this on air. saying, basically, listen, those who get out of line will be dealt with. period. that's very powerful. what is boehner's threat, to remove you from a committee, versus grover's threat to remove you from your seat? who has the power? >> i'll tell you who has the power, the president does. as of january 1st, everybody's taxes go up and we start having a conversation about tax...
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Jul 11, 2012
07/12
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the british government -- >> very effective. they do it immediately. >> very effective, and they do it shame -- they love shame! >> well, and as well, mervin king basically said you can't work here anymore and dimon said, okay, i guess i have to resign. one day he was staying, the next day he was leaving. so, it's a little bit of a different system in terms of the regulators, so it's not as much give-and-take. >> no. >> it seems like there's a lot of give. >> in interview mary did about a month ago, also, dimon had indicated that they wouldn't necessarily disclose if a clawback actually happened. so, i think it'd be interesting if they actually say who got clawed back and how much got clawback. on friday, it seems like a slight change compared to that interview he did a month ago. >> one of the things that i think people forget, and i always -- because i happen to have worked at goldman sachs, was a hedge fund manager. these people are very rich, okay? they are very rich. they tend to have gigantic municipal bond portfolios. the
the british government -- >> very effective. they do it immediately. >> very effective, and they do it shame -- they love shame! >> well, and as well, mervin king basically said you can't work here anymore and dimon said, okay, i guess i have to resign. one day he was staying, the next day he was leaving. so, it's a little bit of a different system in terms of the regulators, so it's not as much give-and-take. >> no. >> it seems like there's a lot of give. >>...
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Jul 30, 2012
07/12
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to the federal government. and i think some people will probably have to pay more. >> i give the president credit for shining a spotlight on jobs, creating a bipartisan task force to focus on it. and really championing the efforts around entrepreneurship. >> i'm wondering, there's probably an undercurrent that maybe we get a better jobs number. i don't see it. the stocks are forecasting a better jobs number. kind of remarkable. >> the trading day has begun. >> the problems in europe and the problems in asia are absolutely nothing that u.s. monetary policy can address with the tools it's got left. so, in my opinion it would be better for the fed to do nothing. but we're not making policy here. they're making that in washington, d.c. >>> good morning, welcome to the third hour of strlt strt coming to you live from post nine and olympic park in london. where carl quintanilla is keeping up with all the action there at the games. carl? >> hey, guys. good to see you this morning. day three of competition is the first
to the federal government. and i think some people will probably have to pay more. >> i give the president credit for shining a spotlight on jobs, creating a bipartisan task force to focus on it. and really championing the efforts around entrepreneurship. >> i'm wondering, there's probably an undercurrent that maybe we get a better jobs number. i don't see it. the stocks are forecasting a better jobs number. kind of remarkable. >> the trading day has begun. >> the...